Baht-uk Pound

[Gatorade]

The UK Economy is the worst for thirty years but the Pound is getting stronger day by day to the Baht (may it continue please God).

How come? Is there a simple explanation?

[NHJ]

baht strength is versus dollar, dollar is going down a lot (1.40 usd for 1 euro), so here's your explanation.

Edited May 23, 2009 by NHJ

[PoorSucker]

Have you tried this one: Google Finance

[cmsally]

The only thing that is plainly obvious is that no one really knows. But I am willing to stick to my election theory and there are now rumours of a possible election end of this year. If one is announced I believe GBP will go higher. Election and change of govt will lead to return in confidence and strength returning to the GBP. That is my theory anyway.

[Asianrider]

Can't see Gordon calling the election till the last possible moment the ways the polls are !

[cmsally]

Guardian

Times

An early election may end up to be his only chance. Maybe he can just hope the Con. have been just as messed up in the expenses scandal. If he waits they may have put their house back in order.

[BigC]

hope the baht stays low for another 3 months cause hopefully i will sell my house and transfer money back to england.

just my luck transfered money from england and the baht went down. now that baht is down i can make my money back the baht is going up.

[cmsally]

hope the baht stays low for another 3 months cause hopefully i will sell my house and transfer money back to england.

just my luck transfered money from england and the baht went down. now that baht is down i can make my money back the baht is going up.

I think that is really the Baht going comparatively down as GBP gets stronger

[Tom Kagai]

The pound plummeted against the baht as the credit crunch kicked off in the last quarter of 2008 and is, in my opinion, going through the motions and finding a new level. A 30% variance was the low-point so, as the recession continues, it will probably correct itself by some 10% (58-60 perhaps) and stay there for a while. That's my guess.

[kennkate]

I don't care WHY as long as it keeps going in this direction.

I myself feel sure it will be back to £1 = 60 Baht in the not too distant future

Doubt I shall be in Thailand to see it But for you guys and gals from UK all the best. It's going UP

Low value pound AND price increases are making it Expensive here.

[HardenedSoul]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Edited May 23, 2009 by HardenedSoul

[mommysboy]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

RUBBISH!

[mommysboy]

The only thing that is plainly obvious is that no one really knows. But I am willing to stick to my election theory and there are now rumours of a possible election end of this year. If one is announced I believe GBP will go higher. Election and change of govt will lead to return in confidence and strength returning to the GBP. That is my theory anyway.

Why not leave it at that! if that's all you can offer.

Just go to Bloomberg and do a search . You should see that the pound is strengthening because it was completely undervalued. The market undershot simple as that, why cloud the waters.

[phaethon]

[12DrinkMore]

Why do we have another thread about the GBP/THB?

There are at least another four in TV.

[SantiSuk]

The UK Economy is the worst for thirty years but the Pound is getting stronger day by day to the Baht (may it continue please God).

How come? Is there a simple explanation?

Sterling / US Dollar

The pound continued its rise against the US dollar yesterday, despite enduring heavy losses earlier in the day. It rose 0.86 cents (0.55%), closing the day at $1.5840.

• In early trading, sterling hit a six-and-a-half-month high against the greenback as risk aversion in the market continued to wane.
  
• However, the announcement mid-morning that ratings agency Standard & Poor had lowered its UK ratings outlook form “stable” to “negative” sent shockwaves through the market, with the pound tumbling nearly 3 cents as a result. S&P cited the UK’s debt burden as the reason for its downgrade, although it did affirm Britain’s ‘AAA’ long-term and ‘A-1+’ short-term sovereign credit ratings.
  
• Official data released minutes after the S&P’s announcement contributed significantly to sterling’s tumble. It showed the UK’s public borrowing hit a record high for the month of April – the first month of the new tax year – as the recession continued to take its toll.
  
• Traders said this triggered a wave of profit-taking in the pound, which until that point had enjoyed a rally of almost 6% this month.
  
• The S&P announcement also largely overshadowed the release of stronger-than-forecast UK Retail Sales data for April. It showed a rise of 0.9% from the previous month, well ahead of the 0.5% analysts were predicting.
  
• After lunch, news that rival ratings agency Moody’s triple-A credit rating for the UK was not under review helped to stem the pound’s fall. Similarly, another agency, Fitch, also confirmed it had not changed its “stable” outlook for the British economy.
  
• The pound started to claw back yesterday’s early losses mid-afternoon as some in the market realised the UK may not be the only country facing deep fiscal problems, with other major nations, including the US, susceptible to ratings adjustments.
  
• The realisation the pound may have been oversold following S&P’s announcement helped it to head back into positive territory late in the day, as improved risk sentiment resurfaced.
  
• In trading so far today, the pound has dipped slightly against the dollar as investors eyed revised quarterly UK GDP figures released at 9.30 BST. There are no major announcements due in the US today.
  

House View:* Sterling positive

Well - you did ask!!

This currency broker has been correctly forecasting the rise of the GBP against the $ for a few months and as you will see continues to do so. The baht seems to be pretty much linked to the US dollar (as are many Asian countries) so when GBP strengthens against the dollar it also strengthens against the baht

I'm coming out to LOS again soon with a bin full of GBP - what's the rate in the exchange booths right now? Curiously I always get the best rate at a booth in Ubon airport (Kasikorn I think) for some unfathomable reason

Edited May 23, 2009 by SantiSuk

[Rinrada]

Most of the news at the mo. is all about our Honorable members with their snouts in the trough....

But Guv I was only playing by the rules ...honest.......and my castle moat did need cleaning out....think of me ducks...

however the pressure is off Gordon for a minute and....every little bit..etc...

Thursday, 21 May 2009

Outlook Even the International Monetary Fund, it seems, now concedes Britain is getting at least something right in its management of the economy.

There was faint praise in an IMF report card issued yesterday for Britain's handling of the banking and economic crisis, not that this is likely to help Prime Minister Gordon Brown very much in his quest to get re-elected.

http://www.independent.co.uk/news/business...se-1688652.html

[PatinBKk]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

[chiang mai]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

Get your facts straight. USD didn't crash it simply fell over the space of several years and as I recall the bottom was "around" 2.08. If you check your history you will see that USD was at 1.85 in May 2005 and only fell, or rather see sawed, a further ten per cent to bottom three years later, hardly a crash. GBP on the other hand fell from "around" 2.08 to 1.30 in the space of around three months, now that's a crash.

As for GBP/THB at 62 around September: you may be right but I doubt it, I think the UK economy is in far worse shape than Thailand's and I see a second wave of bad economic woes hitting GBP quite soon - as posted elsewhere I am almost surprised to see GBP/THB reach 54 but hey, I could be wrong on this aspect.

Edited May 24, 2009 by chiang mai

[phaethon]

...now that's a crash.

We prefer 'uncontrolled descent' if you don't mind old bean...

[chiang mai]

...now that's a crash.

We prefer 'uncontrolled descent' if you don't mind old bean...

[Ricardo]

Why do we have another thread about the GBP/THB?

There are at least another four in TV.

Excess of supply over demand, a bit like the explanation for the Stg:$ exchange-rate, really ...

[PatinBKk]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

Get your facts straight. USD didn't crash it simply fell over the space of several years and as I recall the bottom was "around" 2.08. If you check your history you will see that USD was at 1.85 in May 2005 and only fell, or rather see sawed, a further ten per cent to bottom three years later, hardly a crash. GBP on the other hand fell from "around" 2.08 to 1.30 in the space of around three months, now that's a crash.

As for GBP/THB at 62 around September: you may be right but I doubt it, I think the UK economy is in far worse shape than Thailand's and I see a second wave of bad economic woes hitting GBP quite soon - as posted elsewhere I am almost surprised to see GBP/THB reach 54 but hey, I could be wrong on this aspect.

I got 2.2 in late august 2007 and considering that mid 2006 it was at 1.7 that is over a 25% drop in a year....maybe not an instant crash granted but a sizeable drop in a year......

[vedantafx]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

RUBBISH!

The GBP/USD has rallied for sure, and the GBP in general. I did take a long on the GBP/USD pair a couple of weeks ago. However, I would be very careful of believing the GBP is undervalued. This is an intermediate term rally, and expect after that the GBP will weaken again, as the deleveraging phase two kicks back in. Watch the GBP/JPY pair in particular. Balance of trade in the UK will get worse not better.

[HardenedSoul]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

RUBBISH!

Ok well when it happens, I'll come looking for you on Thaivisa to hear your thoughts.

I've issued a board-wide search for VegasVic ever since his assertions that oil wouldn't get above $50 in 2009 and that gold had peaked for the year at $880 were blown out of the water in short order.

[chiang mai]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

Get your facts straight. USD didn't crash it simply fell over the space of several years and as I recall the bottom was "around" 2.08. If you check your history you will see that USD was at 1.85 in May 2005 and only fell, or rather see sawed, a further ten per cent to bottom three years later, hardly a crash. GBP on the other hand fell from "around" 2.08 to 1.30 in the space of around three months, now that's a crash.

As for GBP/THB at 62 around September: you may be right but I doubt it, I think the UK economy is in far worse shape than Thailand's and I see a second wave of bad economic woes hitting GBP quite soon - as posted elsewhere I am almost surprised to see GBP/THB reach 54 but hey, I could be wrong on this aspect.

I got 2.2 in late august 2007 and considering that mid 2006 it was at 1.7 that is over a 25% drop in a year....maybe not an instant crash granted but a sizeable drop in a year......

I was in a plane crash once, the plane I was on developed problems but it landed safely a thousand miles further on, fortunately there were no casualties and later, the plane took off again!

[HardenedSoul]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

erm . . . no it isn't. Those quotes for the price of gold in sterling ? They're from the receipts and statements of my own personal holdings of bullion. If I'd posted them a little while ago, they'd have shown £700 per ounce !!

If you really do think that sterling's situation can't or won't get any worse, then good luck to you . . . Boy, are you gonna need it.

[mommysboy]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

Get your facts straight. USD didn't crash it simply fell over the space of several years and as I recall the bottom was "around" 2.08. If you check your history you will see that USD was at 1.85 in May 2005 and only fell, or rather see sawed, a further ten per cent to bottom three years later, hardly a crash. GBP on the other hand fell from "around" 2.08 to 1.30 in the space of around three months, now that's a crash.

As for GBP/THB at 62 around September: you may be right but I doubt it, I think the UK economy is in far worse shape than Thailand's and I see a second wave of bad economic woes hitting GBP quite soon - as posted elsewhere I am almost surprised to see GBP/THB reach 54 but hey, I could be wrong on this aspect.

CM's assertions tend to assume that UK is alone in it's travails: it's not and is in fact better condition than others. Further he tends to paint a rosy picture of Thailand's economy, which was in fact fairly bad even before the credit crunch and is set to divebomb given the latest figures. Best ignored IMHO. But the dangerous aspect is that his postings could lead naive and vulnerable posters to lose money, and indeded postings on other threads have shown how this can come about.

[chiang mai]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

Get your facts straight. USD didn't crash it simply fell over the space of several years and as I recall the bottom was "around" 2.08. If you check your history you will see that USD was at 1.85 in May 2005 and only fell, or rather see sawed, a further ten per cent to bottom three years later, hardly a crash. GBP on the other hand fell from "around" 2.08 to 1.30 in the space of around three months, now that's a crash.

As for GBP/THB at 62 around September: you may be right but I doubt it, I think the UK economy is in far worse shape than Thailand's and I see a second wave of bad economic woes hitting GBP quite soon - as posted elsewhere I am almost surprised to see GBP/THB reach 54 but hey, I could be wrong on this aspect.

CM's assertions tend to assume that UK is alone in it's travails: it's not and is in fact better condition than others. Further he tends to paint a rosy picture of Thailand's economy, which was in fact fairly bad even before the credit crunch and is set to divebomb given the latest figures. Best ignored IMHO. But the dangerous aspect is that his postings could lead naive and vulnerable posters to lose money, and indeded postings on other threads have shown how this can come about.

Mommysboy seems to have taken on the role of TV consumer advocate and I can report that he is doing a fine job of stalking my posts to warn everyone that my opinions may cost them money although I'm not sure exactly how that might happen or why he seems to resent my having an opinion on things - his answer seems to be to advise everyone to do exactly the opposite of whatever my position is on any given subject!

It seems that every time I make a post Mommysboy is right there behind me warning others that my posts should come with health warnings yet you fail to say why! Perhaps rather than stalking me Mommysboy you will post constructive challenges that show how and why you think my view should be something other than what it is - let's start with this post here for example shall we.

Edited May 25, 2009 by chiang mai

[chiang mai]

Sterling was the first major currency to take a beating and now it's the dollar's turn so this is merely a realignment of the value of the major paper currencies against each other.

Election or no, the pound will be on the ropes again sooner than you think and here's the reason why: The UK's Financial Services Authority is refusing to make public the results of the stress tests conducted on UK banks. Think about that for a second - the regulator of Britain's banking industry is refusing to give the British public and investors access to information that would reveal how much capital these banks are likely to need to get through this recession. Jeez, at least the Yanks released their results regardless of how unstressful their stress tests were.

Ignoring the reasons as to why the FSA won't release the results, this tells me that Britain WILL have to print a LOT more money to fund additional bank bailouts. Britain is in far, far worse shape even than the US so if you've got sterling sitting in your bank account back in Blighty, <deleted> either buy gold/silver with it or convert it into Canadian dollars or something.

Look at it like this - 1 ounce of gold cost £375 in October 2007. 1 ounce of gold cost £601 when the market shut yesterday. 'Nuff said . . . and NO, the definition of an ounce has NOT changed

Its comments like this that can loose people a lot of money. Sterling the first currency to take a beating...I think not...the $ crashed to 2.2-sterling a year ago.....sterling will settle at around 62 -baht round September.....a common mistake is to buy when high and sell when low...this posters comment is exactly that....

Get your facts straight. USD didn't crash it simply fell over the space of several years and as I recall the bottom was "around" 2.08. If you check your history you will see that USD was at 1.85 in May 2005 and only fell, or rather see sawed, a further ten per cent to bottom three years later, hardly a crash. GBP on the other hand fell from "around" 2.08 to 1.30 in the space of around three months, now that's a crash.

As for GBP/THB at 62 around September: you may be right but I doubt it, I think the UK economy is in far worse shape than Thailand's and I see a second wave of bad economic woes hitting GBP quite soon - as posted elsewhere I am almost surprised to see GBP/THB reach 54 but hey, I could be wrong on this aspect.

CM's assertions tend to assume that UK is alone in it's travails: it's not and is in fact better condition than others. Further he tends to paint a rosy picture of Thailand's economy, which was in fact fairly bad even before the credit crunch and is set to divebomb given the latest figures. Best ignored IMHO. But the dangerous aspect is that his postings could lead naive and vulnerable posters to lose money, and indeded postings on other threads have shown how this can come about.

Sorry to belabor all of this but some clarification is needed - can you explain how and why you think the UK economy is in better condition than others and who are the other to whom you refer?

Whilst researching the above will you also provide a link to prove your final statement "postings on other threads have shown...", with an emphasis to prove how people might lose money. Ta